19E - HUD ANNUAL ACTION PLAN - Laserfiche WebLink

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Affordable Housing AP -55 Affordable Housing — 91.220(g) Introduction As noted earlier, the most important impediment to affordable housing revolves around the lack of Federal and State resources for affordable housing Initiatives. The lack of programs and resources to reduce excessive rent or mortgage burdens to qualified persons ls,,,� factor. Another barrier to affordable housing in Santa Ana is the hid t��,1,fhousing created by a demand for housing, both existing and new, which exceeds the current „ppply. 'd Lte the recent downturn in the housing market nationally, housing prices, both pure nd rental, r of high, especially for lower income households. In addition, the cost of site acquisition is very high, facts make housing construction expe siv and put households. 's.� The Housing Needs Assessment also identified r�. to the foreclosure crisis, 1 also is outside t ,,0 f issues revolving arou d) rsona� in�a4 (lack g, affect the availability of;p fgrdable housing for In an - In 201,,, to City Council adop t r, � r. Opportunit Qrdinance (HO6 residential de�taAlopment when to provide 1506 of ill w units households. The H s reel: V11 r;.. income households or 15fQt f r has n12costs are aI high. These lA,ng out of the reae uof low- Income in the %ortgage origination process due �roi o Cit policy. In some instances, cedit history, employment history) residents: the following actions: 4 lusionary Yb,ps,htg ordinance referred to as Housing giilfl u�esidentlal Projects with a zone change that allow uses were;not previously allowed, and include more than 5 units, to Ana to be affordable to very low -, low- and moderate - Income 2015 to provide 10% of new units to be affordable to very low - its to be affordable for low - income households. - The City utilized limited public' resources to fund the development and /or the acquisition and rehabilitation of rental housing units. This public assistance will result in lower rents for assisted units thus partially offsetting the impacts of some of the barriers listed above. Collaborating with CHDOs helps ensures long -term affordability and maintenance of housing units. -The City's Housing Authority conducted outreach to rental property owners to encourage participation In the rental assistance program.'rhe Authority's staff also provided counseling to new /prospective tenants on the importance of building good credit history. Credit counseling was provided by the Annual Action Plan 2016 OMB Control No: 2506 -0117 oxp. 07/31/2015) 19E -35 32